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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
How do different styles of law firm win clients?
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<blockquote data-quote="Matt_96" data-source="post: 35343" data-attributes="member: 1260"><p>This is going to sound like a dumb question, but it occurred to me recently that I only have a very vague idea of how it all works.</p><p></p><p>For commercial firms, I understand reputation within the directories and pitching for positions on the legal panels of companies is important, but how does this actually work in practice? I also know that it is not unheard of for clients to jump ship to a new firm if the relationship partner goes there. But are there other avenues I'm missing?</p><p></p><p>For private client and smaller firms, I'm also not really sure how they win business, but I would guess that they build referral networks with other services for HNW clients (e.g. wealth management) as well as rely on their directory reputations and perhaps even word of mouth. Maybe for firms with substantial practices in more commercial areas (like BCLP, Mishcon or Macfarlanes) I imagine they could win work through cross-selling their services from other departments.</p><p></p><p>Does this sound about right? Does anyone else have any thoughts?</p></blockquote><p></p>
[QUOTE="Matt_96, post: 35343, member: 1260"] This is going to sound like a dumb question, but it occurred to me recently that I only have a very vague idea of how it all works. For commercial firms, I understand reputation within the directories and pitching for positions on the legal panels of companies is important, but how does this actually work in practice? I also know that it is not unheard of for clients to jump ship to a new firm if the relationship partner goes there. But are there other avenues I'm missing? For private client and smaller firms, I'm also not really sure how they win business, but I would guess that they build referral networks with other services for HNW clients (e.g. wealth management) as well as rely on their directory reputations and perhaps even word of mouth. Maybe for firms with substantial practices in more commercial areas (like BCLP, Mishcon or Macfarlanes) I imagine they could win work through cross-selling their services from other departments. Does this sound about right? Does anyone else have any thoughts? [/QUOTE]
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How do different styles of law firm win clients?
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